China October auto sales up 72 percent on stimulus
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BEIJING -- Powered by tax cuts and stimulus spending, China's October auto sales soared 72 percent from a year earlier, outpacing U.S. sales for another month, according to data reported Monday, according to The Associated Press. Automakers sold a total of 1.2 million cars and trucks, the government-sanctioned China Association of Auto Manufacturers announced. That was down from September's 1.3 million but well ahead of the 838,000 vehicles sold in the United States in October. China's sales this year rose to 10.9 million vehicles, compared with 8.6 million in the United States, according to Autodata Corp. Global automakers are looking to China's fast-growing market to drive sales amid slack demand elsewhere. Sales have been spurred by tax cuts and subsidies meant to help nurture China's auto industry and encourage purchases of more fuel-efficient vehicles. 
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